Analysts at financial services giant JPMorgan forecast “significant upside” for Bitcoin over the next months in a report on Wednesday.
Stablecoins have emerged as a store-of-value asset in emerging market economies at a rate no one predicted, Wood said on Thursday.
Bitcoin’s slide toward $100,000 accelerates as ETF outflows, weak earnings and macro uncertainty rattle traders, leaving bulls hesitant to reenter the market.
Current fiscal and monetary policies will cause hard asset prices to rise, but both are signs of late-stage economic decay, Dalio said.
Over $100 billion in old Bitcoin has moved as spot ETFs see record outflows, igniting debate over whether true OGs or traders are driving the market sell-off.
JPMorgan said the latest BTC price drawdown meant Bitcoin was undervalued compared with gold.
Bitcoin’s MVRV ratio indicated that BTC was forming a potential local bottom, suggesting that the price can recover due to seller exhaustion.
The mining hardware maker said it’s refocusing on its core business of ASIC chip design and high-performance computing equipment as it scales production in the United States.
With a third of Bitcoin held at a loss, onchain data suggested the market may be nearing a critical reset phase. Will BTC end the year above its range highs?
Jan3 founder Samson Mow also argued that fears of Bitcoin OGs selling are overblown and traders should focus on the next bull run, rather than “self-owning themselves.”